Baba Ramdev’s Patanjali plans to enter into solar power business

Tuesday, December 5, 2017
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Patanjali Ayurved, which was set up in 2006, has grown at a stunning pace, increasing its revenue more than fivefold to Rs10,561 crore in the year to 31 March from Rs2,006 crore in 2014-15; it aims to cross Rs20,000-25,000 crore in sales by 31 March 2018.This will be the company’s first exposure to the infrastructure sector and comes after its runaway success in consumer products.Patanjali acquired Advance Navigation and Solar Technologies Pvt. Ltd, a manufacturer of navigation aid equipment, earlier this year. Currently, the facility has a manufacturing capacity of 120 megawatts. Patanjali plans to invest around Rs100 crore in solar equipment manufacturing and its factory in Greater Noida is expected to be fully operational within the next couple of months.

“This started with our plan to use solar as a source of power at all our factories. That time we understood (that) most of the solar modules come from China. And there was no quality consistency even in India-made ones,” Balkrishna added.

India proposes to award 100GW of solar and wind contracts by March 2020. This includes a plan to invite bids for setting up 20GW solar power capacity—the world’s largest solar tender—at one go, to spur domestic manufacturing of solar power equipment. Patanjali will eye on these prospects.